28,555 Shares in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Bought by Intech Investment Management LLC

Intech Investment Management LLC bought a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,555 shares of the biotechnology company’s stock, valued at approximately $527,000.

Several other hedge funds have also recently modified their holdings of the stock. Novo Holdings A S lifted its holdings in Rocket Pharmaceuticals by 4.8% in the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after acquiring an additional 50,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Rocket Pharmaceuticals during the second quarter valued at $2,144,000. First Turn Management LLC lifted its stake in shares of Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock worth $11,476,000 after purchasing an additional 60,317 shares during the period. Maverick Capital Ltd. increased its stake in shares of Rocket Pharmaceuticals by 1.0% during the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Privium Fund Management B.V. grew its position in Rocket Pharmaceuticals by 17.5% during the third quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company’s stock valued at $5,445,000 after acquiring an additional 43,820 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Leerink Partners decreased their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Finally, Scotiabank started coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Trading Up 1.3 %

NASDAQ RCKT opened at $14.39 on Monday. The firm has a market capitalization of $1.31 billion, a PE ratio of -5.23 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The company has a 50-day simple moving average of $16.50 and a 200-day simple moving average of $19.54. Rocket Pharmaceuticals, Inc. has a one year low of $12.62 and a one year high of $32.53.

Insider Activity

In other news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the sale, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 13,490 shares of company stock worth $176,045. 28.50% of the stock is owned by company insiders.

Rocket Pharmaceuticals Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.